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Saturday, September 24, 2016

Post Office Savings Account - 4%, Minimum Rs. 20 for opening

Post Office Savings Account - 4%, Minimum Rs. 20 for opening


Interest payable, Rates,
 Periodicity etc.
Minimum Amount for opening 
of account and maximum 
balance that can be retained
4.0% per annum on individual / joint accounts
Minimum INR 20/- for opening
Salient features including Tax Rebate
^ Account can be opened by cash only.
^ Minimum balance to be maintained in a 
non-cheque facility account is Rs.0 50.
^ Cheque facility available if an account is 
opened with Rs. 500- and for this purpose minimum balance 
of Rs. 500in an account is to be maintained
^Cheque facility can be taken in an existing account also
^Interest earned is Tax Free up to Rs. 10,000 per year 
from financial year 2012-13.

^Nomination facility is available at the time of
opening and also after opening of account.
^Account can be transferred from one post office to another.
^ One account can be opened in one post office.
^ Account can be opened in the name of minor 
and a minor of 10 years and above age can 
open and operate the account.
^ Joint account can be opened by 2 or/ 3 adults.
^ At least one transaction of deposit or / withdrawal 
in three (3) financial years is necessary to keep 
the account active.
^Single account can be converted into Joint & Vice Versa
^ Minor after attaining majority has to apply for
 conversion of the account in his name
^ Deposits & withdrawals can be done through
 any electronic mode in CBS Post offices.
* Inter Post office transactions can be done between 
CBS post offices
* ATM / Debit Cards can be issued to
Savings Account holders ( having prescribed 
minimum balance on the day of issue of card) of CBS Post offices.


Post Office Savings Account - 4%, Minimum Rs. 20 for opening Reviewed by S. Chitra on September 24, 2016 Rating: 5 Post Office Savings Account - 4%, Minimum Rs. 20 for opening Interest payable, Rates,  Periodicity etc. Minimum Amount ...

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